ROKU, INC ROKU
Roku, Inc. ("Roku," the "Company," "we," or "us") is the leading TV streaming platform in the United States, Canada, and Mexico by hours streamed.
We pioneered TV streaming and believe that all TV will be streamed. The shift of the TV ecosystem to streaming continues and is expanding TV's capabilities for viewers, content partners, advertisers, and other industry participants. Nearly every major media company not only has a streaming service, but has also expanded beyond pure subscription streaming models to ad-supported streaming options. Advertisers use TV streaming to reach viewers who are increasingly unreachable on traditional TV, while also benefiting from the digital advertising capabilities that TV streaming platforms can deliver.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.74B | $4.11B | $3.48B | $3.13B | $2.76B | $1.78B | $1.13B | $742.5M | $512.8M | $398.6M |
| Cost of revenue | $2.66B | $2.31B | $1.96B | $1.69B | $1.36B | $970.2M | $633.7M | $410.4M | $312.9M | $277.6M |
| Gross profit | $2.07B | $1.81B | $1.52B | $1.44B | $1.41B | $808.2M | $495.2M | $332.1M | $199.8M | $121.0M |
| R&D | $729.5M | $720.1M | $878.5M | $788.9M | $461.6M | $355.8M | $265.0M | $170.7M | $107.9M | $76.2M |
| SG&A | $386.2M | $371.0M | $403.2M | $344.7M | $256.3M | $173.2M | $116.4M | $72.0M | $47.4M | $35.3M |
| Total operating expenses | $2.08B | $2.02B | $2.31B | $1.97B | $1.17B | $828.5M | $560.3M | $345.4M | $219.4M | $164.4M |
| Operating income | -$5.6M | -$218.2M | -$792.4M | -$530.9M | $235.1M | -$20.3M | -$65.1M | -$13.3M | -$19.6M | -$43.4M |
| Interest expense | $1.9M | $411.0K | $730.0K | $5.2M | — | — | — | — | — | — |
| Pre-tax income | $93.9M | -$120.0M | -$699.4M | -$492.3M | $236.6M | -$18.5M | -$60.9M | -$9.3M | -$63.2M | -$42.5M |
| Income tax | $5.5M | $9.4M | $10.1M | $5.7M | $5.8M | $945.0K | $982.0K | $476.0K | $315.0K | $211.0K |
| Net income | $88.4M | -$129.4M | -$709.6M | -$498.0M | $242.4M | -$17.5M | -$59.9M | -$8.9M | -$63.5M | -$42.8M |
| EPS, basic | 0.60 | -0.89 | -5.01 | -3.62 | 1.83 | -0.14 | -0.52 | — | — | — |
| EPS, diluted | 0.59 | -0.89 | -5.01 | -3.62 | 1.71 | -0.14 | -0.52 | -0.08 | -2.24 | -9.01 |
| Shares, diluted (wtd. avg.) | $150.9M | $144.6M | $141.6M | $137.7M | $141.7M | $124.0M | $115.2M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.59B | $2.16B | $2.03B | $1.96B | $2.15B | $1.09B | $517.3M | $155.6M | $177.2M | — |
| Short-term investments | $730.2M | $0 | — | — | — | — | $0 | $42.1M | $0 | — |
| Receivables | $879.9M | $812.5M | $816.3M | $760.8M | $752.4M | $523.9M | $332.7M | $183.1M | $120.6M | $79.5M |
| Inventory | $114.6M | $158.3M | $92.1M | $106.7M | $50.3M | $53.9M | $49.7M | $35.6M | $32.7M | $43.6M |
| Total current assets | $3.40B | $3.23B | $3.07B | $2.96B | $3.05B | $1.70B | $925.7M | $432.9M | $344.9M | $165.2M |
| Property, plant and equipment | $173.6M | $213.7M | $264.6M | $335.0M | $177.6M | $155.2M | $103.3M | $25.3M | $14.7M | $9.5M |
| Goodwill | $309.4M | $161.5M | $161.5M | $161.5M | $161.5M | $73.1M | $74.1M | $1.4M | $1.4M | — |
| Other intangibles | $50.2M | $27.5M | $41.8M | $58.9M | $84.1M | $62.2M | $76.7M | $1.5M | $2.0M | — |
| Total assets | $4.43B | $4.30B | $4.26B | $4.41B | $4.08B | $2.27B | $1.47B | $465.0M | $371.9M | $179.1M |
| Accounts payable | $158.6M | $274.0M | $385.3M | $164.8M | $124.9M | $112.3M | $115.2M | $56.6M | $56.4M | $31.4M |
| Short-term debt | — | — | $0 | $80.0M | $9.9M | $4.9M | $4.9M | — | — | $15.0M |
| Total current liabilities | $1.24B | $1.23B | $1.28B | $1.08B | $729.6M | $520.3M | $358.3M | $194.0M | $163.3M | $116.5M |
| Long-term debt | — | — | — | $0 | $80.0M | $89.9M | $94.7M | $0 | $0 | — |
| Total liabilities | $1.78B | $1.81B | $1.94B | $1.77B | $1.32B | $942.5M | $771.8M | $220.3M | $219.6M | $159.7M |
| Retained earnings | -$1.49B | -$1.43B | -$1.30B | -$588.0M | -$90.0M | -$332.4M | -$313.8M | -$253.9M | -$283.3M | -$219.8M |
| Total equity | $2.66B | $2.49B | $2.33B | $2.65B | $2.77B | $1.33B | $698.4M | $244.7M | $152.3M | -$193.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $483.7M | $218.0M | $255.9M | $11.8M | $228.1M | $148.2M | $13.7M | $13.9M | $37.3M | -$32.5M |
| Depreciation and amortisation | $45.6M | $48.5M | $53.3M | $31.0M | $25.4M | $21.7M | $12.8M | $7.8M | $5.2M | — |
| Stock-based compensation | $354.2M | $384.7M | $370.1M | $359.9M | $187.5M | $134.1M | $85.2M | $37.7M | $11.0M | $8.2M |
| Capital expenditure | $5.3M | $5.1M | $82.6M | $161.7M | $40.0M | $82.4M | $77.2M | $18.3M | $9.2M | $8.6M |
| Investing cash flow | -$782.4M | -$25.1M | -$92.6M | -$201.7M | -$176.8M | -$81.3M | -$110.3M | -$60.1M | -$12.3M | -$8.6M |
| Financing cash flow | -$280.1M | -$89.2M | -$61.2M | $8.4M | $1.00B | $509.0M | $458.3M | $24.5M | $117.7M | -$156.0K |
| Buybacks | $150.0M | $0 | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016715.
Others in SIC 4841
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CMCSA | COMCAST CORP | $94.41B | 4.9x | -0.0% |
| WBD | Warner Bros. Discovery, Inc. | $70.93B | 97.4x | -5.1% |
| CHTR | CHARTER COMMUNICATIONS, INC. /MO/ | $18.26B | 4.2x | -5.5% |
| LBTYA | Liberty Global Ltd. | $3.61B | — | 12.4% |
| ADEA | Adeia Inc. | $2.92B | 26.8x | 17.9% |
| LILA | Liberty Latin America Ltd. | $1.71B | — | -0.1% |
| GLIBA | Liberty Capital Corp/NV | $1.06B | — | 3.0% |
| AMCX | AMC Global Media Inc. | $536.8M | 7.5x | -4.5% |